Stocks In Focus: Cleantech Solutions International, Inc.

Cleantech Solutions International, Inc. (“Cleantech Solutions” or “the Company”) (NASDAQ: CLNT) recently declared that it has launched a global bike sharing app service and joined together with local sharing bike operators in Hong Kong.
Cleantech Solutions’ one-stop solution allows consumers to locate and pay for sharing bikes using a single platform, without having to download separate apps and create separate payment accounts for each individual bike-sharing operator. Using the Company’s platform, consumers will be able to locate and rent the closest sharing bike on a cross-city and cross-region basis. Featuring a single registration, deposit and payment system, bike locking and tracking technology, the Company anticipates its platform to provide a seamless and compelling user experience. The infotainment system provides consumers with real-time riding stats, navigation, and rider assistance while providing bicycle owners additional security via GPS tracking together with opportunities for monetization from in-app advertising. The Company has partnered with Hong Kong-based Xiao Sun Bike and Ketch’up Bike, and plans to add more regional bicycle operators to the platform. The platform will open up opportunities for individuals and small bike rental companies to join, by installing a specific bike locking and location system.
According to a Roland Berger Strategy Consultants study, the global bike sharing market is expected to be worth up to 5.3 billion euros by 2020. Roland Berger anticipates digitization and planned partnerships will shape the market.
“China’s bike-sharing market is booming and expected to grow from $1.5 billion in 2017 to $3.5 billion by 2019, contributing a large part in the development of the global bike sharing market, thanks to its low cost, flexibility, and environmentally friendly nature. We envision our platform as a place where smaller operators and even individual owners, can take part in the bike sharing economy. Integrating with ECrent.com, our bike sharing partners and individual bike owners will have access to the sharing economy platform’s 30 million unique users per month from around the world. We believe our new bike sharing platform will appeal to bike sharing operators and consumers alike,” said Parkson Yip, COO of Cleantech Solutions.